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re: Chase bank premium deposit account

Posted on 5/19/23 at 7:59 am to
Posted by Ziggy
Member since Oct 2007
22054 posts
Posted on 5/19/23 at 7:59 am to
quote:

It’s called JP Morgan premium deposit


10-4. So when logged into Chase.com, where would I find information on this account and how to open one, etc.?
Posted by Gorilla Ball
Az
Member since Feb 2006
12869 posts
Posted on 5/19/23 at 10:08 am to
I think you’d need to talk with an advisor- I visited the branch. They verified my information and within a few hours they sent me some docs to doc u sign abd they’ll probably verify the amount you want to transfer.
Then in you can See the account link to your online accounts
Posted by Ziggy
Member since Oct 2007
22054 posts
Posted on 5/19/23 at 10:15 am to
quote:

I think you’d need to talk with an advisor- I visited the branch. They verified my information and within a few hours they sent me some docs to doc u sign abd they’ll probably verify the amount you want to transfer.
Then in you can See the account link to your online accounts


I figured they'd make you go sit down with an advisor at the actual bank.

Besides the "minimum" balance, what are the other requirements? Do they charge a monthly "fee" for this type of account?

Thanks for the info.
Posted by tigerfoot
Alexandria
Member since Sep 2006
60731 posts
Posted on 5/19/23 at 10:38 am to
quote:

FWIW, Fidelity is at 4.8%-4.9% with FDIC protection up to $5M.


I have a Fidelity account, how do I access this? Sorry for the ignorance
Posted by tigerfoot
Alexandria
Member since Sep 2006
60731 posts
Posted on 5/19/23 at 10:43 am to
quote:

, plus better service and keep your money locally invested in the community.
This is not always the case. I have a ton of money parked in a local bank, they have been almost useless in helping maximize utilizing any of their products.
Posted by Sofaking2
Member since Apr 2023
19598 posts
Posted on 5/19/23 at 10:48 am to
I’ll have to decide which one of my 100K accounts to use, lol
Posted by Zendog
Santa Barbara
Member since Feb 2019
6345 posts
Posted on 5/19/23 at 12:48 pm to
quote:

This board is obsessed with who has the highest yield


Maybe because it's a finance board?
Posted by Gorilla Ball
Az
Member since Feb 2006
12869 posts
Posted on 5/19/23 at 12:59 pm to
No the only requirement was 100k, I did sit down with an advisor but he didn’t try to upsell me on any other products
Posted by Gorilla Ball
Az
Member since Feb 2006
12869 posts
Posted on 5/19/23 at 1:00 pm to
Thanks for this information about fidelity
Posted by Cdonaldson27
New Orleans
Member since Oct 2015
1076 posts
Posted on 5/19/23 at 1:21 pm to
quote:

Bank local where you know the board and management. You can get the same tech these days, plus better service and keep your money locally invested in the community.

Tried this with my mortgage and Whitney Bank 20 years ago. Actually paid .2 percent more to go local.
They sold that loan off to Washington Mutual with a quickness within 1 week.

Feeling is not mutual with local banks. It's all about the benjamins.
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
135710 posts
Posted on 5/21/23 at 6:16 am to
quote:

I have a Fidelity account, how do I access this?
Hold a cash position in your brokerage account.
Posted by 2Yutes
BR
Member since Oct 2018
2429 posts
Posted on 5/21/23 at 8:31 am to
Not a bad option for some. Or just autoroll 4 week T-Bills currently at a better rate and pocket state taxes.
Posted by Kreg Jennings
Parts Unknown
Member since Aug 2007
3914 posts
Posted on 5/21/23 at 2:25 pm to
quote:

Feeling is not mutual with local banks. It's all about the benjamins.


I truly hope you realize a relationship with a trusted financial institution should be more of a two way street vs you viewing them as the commodity of the week. Better hope you don’t need them in a pinch. They’ll leave you out in the cold and sleep just fine. You should learn more about loyalty and a fiduciary, mutually beneficial relationship when it comes to your money.
Posted by Cdonaldson27
New Orleans
Member since Oct 2015
1076 posts
Posted on 5/22/23 at 9:02 am to
quote:

I truly hope you realize a relationship with a trusted financial institution should be more of a two way street vs you viewing them as the commodity of the week. Better hope you don’t need them in a pinch. They’ll leave you out in the cold and sleep just fine. You should learn more about loyalty and a fiduciary, mutually beneficial relationship when it comes to your money.

Well, I was in my upper 20's and attempting to establish that relationship but they had no interest. Furthermore, I could only meet with them before 330 because they close right thereafter.

No, I don't need them.

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